now, wait until next year, taxes are going up not just for the rich and plus, america's second largest city on the verge of bankruptcy and los angeles is not alone. the growing public pension crisis and in the states across the country and president obama's disarmament dream, is his new nuclear doctrine a solid strategy or wishful thinking? welcome to the journal editorial report. i'm in this week for paul gigot, are you spending the weekend finishing up your taxes, if april 15th fast approaching, millions of americans are. if you think you're paying a lot now, wait until next year, taxes are going up just not for the rich. with a primer on the increases, tax dean, columnist and editor dan ettinger and assistant editor, james freeman and senior economics writer steve moore. steve, aim going to start with you. which taxes are going up january 1st and who pays them? >> well, hey, stuart i have to confess i'm a procrastinator, i haven't done my taxes yet. if you think it's worse this year, you're right, it's worse next year, the bush tax cuts expire and perhaps the dividend tax, doubling